Decline in exports slows down

29/12/2009 09:30

The volume of goods exports was 6 percent smaller in October 2009 than one year ago. In September, the decline was more than 8 percent. The volume of goods imports shrank by 12 percent in October. Volume figures have been corrected for the number of working days.

According to the Exports Radar for December 2009, conditions for Dutch exports have marginally improved. Since May, the situation has gradually changed for the better after a sustained period of deterioration.

In October, the value of exported goods totalled 27.8 billion euro, nearly 17 percent down on one year ago. The value of imports plummeted by 19 percent to 24.0 billion euro, resulting in a trade surplus of 3.8 billion euro, just about the same as in October 2008.

The value of imports and exports of mineral fuels dropped considerably, the value of imports and exports of exports of food and drinks fell less dramatically. Exports to EU countries decreased by far more than exports to non-EU countries.

Partly as a result of plummeting prices for natural gas and petroleum derivatives, import prices dropped by more than 5 percent and export prices by nearly 9 percent in October compared with one year previously. Terms of trade of foreign goods trade slumped relative to October 2008.

The figures published in this update have been adjusted from those published on 15 December 2009. The revision is based on new and more detailed information.